Adopting Social Learning Best Practices

Adopting Social Learning Best Practices© 2015 Cannon Financial Institute 2

AbstractSocial Learning tools unlock the keys to enterprise collaboration, provide access to

experts and best practices, enable meaningful behavioral coaching, and improve

employee engagement. Due to various disruptors caused by technology and pressures

from compliance and external regulators, learning professionals in Financial Services have

struggled to find ways to adopt and apply Social Learning tools and techniques inside

of their organization. Using Bloomfire’s collaborative online platform, Cannon Financial

Institute has successfully deployed compliant, social learning experiences in formal and

informal learning contexts.

© 2015 Cannon Financial Institute

ChallengeFor a variety of reasons, training units within Financial Services have been historically

slow in adopting innovative talent development technologies. Necessity, rather than

innovation, is the historical driver of change to learning design. However, the confluence

of several disruptors is forcing a change in the way Chief Learning Officers, Business

Training Managers, Performance Consultants and Instructional Designers develop training

and performance support for their learners. These

disruptors are representative of external pressures on

the Financial Services industry, evolving research, and

training and performance improvement technologies.

There are six primary disruptors converging:

advancements in technology, a shift to free and open

content over the internet, focus on skill development,

need for innovation, rapid changes in workforce

demographics, and improvements in productivity

measurement (adapted from Shum and Ferguson, 2012). Learning and development

professionals should leverage each of these disruptors as a driver of change to bring

innovative technologies to talent development units within Financial Services.

Adopting Social Learning Best Practices 3

Drivers of ChangeTeChnoLogy AdvAnCemenT

ShIFT To Free & oPen ConTenT

FoCuS on SkILL deveLoPmenT

need For InnovATIon

ChAngIng WorkForCe demogrAPhICS

ProduCTIvITy meASurmenTS

Adopting Social Learning Best Practices© 2015 Cannon Financial Institute 4

Leveraging drivers of Change

Rapid Technology AdvancementsThe most significant driver of change is the

constant change in new and innovative technology

capability, specifically in educational technology

and related social tools. The prominence of web-

based applications such as Google, Twitter, wikis,

blogs, and optimized search engines are connecting

people with terms, definitions, examples, and

demonstrations at a pace faster than firms can

respond. Advancements in mobile technology enable

learners to access content from anywhere at any

time, freeing them from the tethers of desktops or

formal learning management systems. Learners will

expect future solutions to allow even greater access

to content when and where they need it the most.

This scenario amplifies the challenge that CLOs and

Business Training Managers have accommodating

different types of workers and multiple technologies

required to help manage the content and needs of

both the enterprise and the Line of Business. CLOs

and Training Managers already know that “people

learn from one another, via observation, imitation,

and modeling” (Bandura, 1978). Now, the question

lies in finding a way to create a scalable solution that

is adaptive to ongoing change in a cost effective and

compliant way.

Free and Open ContentThe rapid advancements in technology have given

rise to platforms of content freely available to

learners. This disruptor manifests in a spectrum

ranging from free Massively Open Online Courses

(MOOCs) and iTunes University that connect

academics to learners from all over the world to the

hyper-commoditization of knowledge through sites

like Wikipedia, Investopedia, or other collaborative

sites. Free knowledge and information present

unique challenges in helping connect learners with

the right information that will enable them to turn

information into meaningful knowledge.

Skill DevelopmentWhen learners have access to terms, definitions, and

demonstrations at their finger tips, whether through

search engines like Google or internal intranet

sites, training provides less value in a classroom

setting or eLearning module when used for the sole

purpose of disseminating knowledge rather than skill

development. Self-paced eLearning came roaring

on the scene with the promise of efficiency and wide

dissemination of information through the finger tips of

CLOs and Training Managers. This promise revealed

to be both true and false; the wide dissemination

of knowledge proved true, but its sufficiency and

effectiveness to improve skill, false. eLearning

provides a way to deliver information, but only as

a one-way communication thread. Learners were

left to contextualize information on their own. The

ability to build skill versus simply transfer knowledge

is a void in the eLearning environment. There are

now more low cost, efficient means of transferring

information, while skill development still remains a

challenge outside of the traditional classroom. These

skills range from developing effective communication

skills for executives, coaching skills in managers,

and sales skills for front-line workers. In order to

improve skill, learners need access to performance

coaches who can evaluate skill quality and provide

constructive feedback, not just answer knowledge-

based questions.

Adopting Social Learning Best Practices© 2015 Cannon Financial Institute 5

Workforce DemographicsThe change in workforce demographics, like the

previous three, is not isolated to the learning and

talent development space. The Baby Boomer

generation yields 10,000 retirees daily; while the

Millennial generation simultaneously enters the

workforce with significant differences in learning

preferences, abilities and corporate expectations.

Therefore, the vast divide created between

competent young worker and wise veteran is

a considerable risk to a company’s production

standards. Solutions are needed that allow

Millennials to learn from the wisdom of more

experienced Baby Boomers and tenured Gen X’ers.

Continued InnovationDistance and sprawling organizational footprints

magnify the challenge to innovate, often keeping

best practices hidden in pockets of the enterprise.

The remedy is to create collaboration between

workers from across the footprint allowing for new

and innovative solutions to bubble up from the

entire workforce. A by-product of this collaboration

becomes connecting the wisdom and experience

of the retiring workforce to the enthusiasm of the

emerging Millennial. This takes a historical support

group of “one to the many” and establishes a

collaborative environment that connects the “many

to the many.”

Productivity MeasurementComing out of the downturn, financial institutions

revised the systems of measuring productivity in their

workforce. Tighter margins and decreased education

budgets necessitated business leaders’ measure

their ROI on all training experiences.

Specifically, leaders found themselves analyzing

exactly how much it cost in lost productivity and

lead generation when their advisors or sales teams

were out the office for instructor-led sessions.

The shift towards more distance-based learning,

particularly that type of collaborative technology

that allows workers to work and learn flexibly,

present the greatest opportunity for increasing ROI.

This emphasis on measurement also challenges

CLOs and Training Managers to consider new ways

of reporting and measuring training results. As

technology changes and we move beyond simple

assessment scores and completion status, open

APIs are allowing organizations to measure informal

learning and object tools like open badges. In

addition, engagement metrics are allowing training

managers to look at data and present it in ways that

are more meaningful.

The authenticity of these challenges is without

question. The methods and tools that will allow

training professionals to capitalize and exploit these

drivers of change are found in a technology-enabled

world.

That solution is Social Learning.

Adopting Social Learning Best Practices© 2015 Cannon Financial Institute 6

Solution design FeaturesThought leaders like Albert Bandura, Stephen Downs, and researchers at Siemens (among

others), found that the aforementioned disruptors call for a different paradigm and new

models to address this challenge. Siemens

and Downes each called for application of the

theory of Connectivism.

Connectivism-driven solutions need to have

the capability to align expectations to the

workforce, promote collaboration, foster

innovation and be available when and where

the workers are, not where the experts or

trainers are located. Social Learning tools

provide CLOs and Training Managers with the

ability to meet all of these challenges.

Research suggests that Boomers, Xers and

Millennials are already using social tools outside of work. Some organizations have tried

to adapt these tools in the work environment with a varying degree of success. Social

tools need to have at minimum the following capabilities: videos (uploading, downloading,

feedback), links, podcasts, screencasts, tags to categorize and optimize searching, ability

to ask questions, and behavioral rating ability to identify experts or those who routinely give

the best answers. While social networking is NOT Social Learning, the two can share some

of the same tools. In a 2012 survey for Time Magazine, 64% of respondents already use

social networks, and thus social tools, at work already. This provides CLOs and Training

Managers with the opportunity to leverage tools that their employees already freely use

outside of work and adapt the same functionality and power to meet the various challenges

inside of the organization. Social tools are also far more intuitive than some internal expert

systems. This means that workers already know how to use the various tools that exist

for collaboration, so training managers and instructional designers need to find ways of

harnessing that capability for sharing best practices within their organization.

Connectivism is a learning theory for the digital age. Learning has changed over the last several decades. The theories of behaviorism, cognitivism, and constructivism provide an effect view of learning in many environments. They fall short, however, when learning moves into informal, networked, technology-enabled arena. (Siemens 2004)

Adopting Social Learning Best Practices© 2015 Cannon Financial Institute 7

how the Solution meets the Challenge

“Social learning is the bridge between behaviorist

and cognitive learning theories because it

encompasses attention, memory, and motivation”

(Bandura 1978). Social Learning can be applied as

formal or informal learning; in fact some applications

have adopted Social Learning as a bridge between

the two models. How has Cannon been able to apply

these principles inside of some of the world’s largest

financial institutions? In 2013, Cannon partnered

with Bloomfire, a cloud-based collaboration platform

to operationalize Social Learning in Financial

Services. Cannon deployed their Community

Learning Platform, leveraging Bloomfire’s Social

Learning capabilities, for formal and informal learning

initiatives. For formal learning, Cannon has deployed

a Bloomfire solution with clients to deliver distance-

based sales programs for new hires and as a part

of blended learning solutions between ILT sessions

with skill development activities and promoting

collaboration between sales teams across the entire

country. Other organizations use the platform to

promote enterprise collaboration, distance coaching,

and best practice sharing independent from a formal

learning setting.

How are companies using this solution to build or improve skill?

In one example of a deployment of a sales program,

sales officers uploaded video of their personal value

proposition, or Branding message, to a secure,

private community on Bloomfire using their mobile

device or webcam. Users learned the tenets of the

content in an ILT class, and then they used Bloomfire

to upload various examples and iterations gaining

feedback from peers and experts along the way.

This is an example using Social Learning in a formal,

blended learning program. In a second example of

a coaching initiative, managers were shown short

videos of both positive and negative coaching

Adopting Social Learning Best Practices© 2015 Cannon Financial Institute 8

examples with colleagues. Managers were then

asked to diagnose what was positive, what could

be improved, asked to upload a short video clip

of how they would position the conversation, and

then asked to provide feedback to their peers. The

community interactions were monitored by expert

coaches who were able to reach managers and

provide feedback without having to travel to observe

their communication style.

Using the features outlined above, the competitive

advantages that Financial Services companies

are gaining are the ability to improve skill through

peer feedback and expert coaching without being

subjected to constant productivity-killers like travel

and lapses in schedule coordination. Through

mobile video sharing through the Bloomfire mobile

app, learners have been able to seek feedback

on conversational and client interaction skills, like

branding and positioning, client discovery, and

presentations by uploading quick videos and getting

feedback from experts or peers. Using Bloomfire’s

capability for cloud storage, financial institutions

are not tasked with the challenge of storing videos

on their servers or dealing with bandwidth issues

that formally hindered the use video. Learners can

now upload a video, receive coaching or tips from

trusted colleagues and make adjusts immediately.

This technology allows for collaboration as well

as performance improvement through coaching

and just-in-time expert and community support.

Bloomfire’s application can be accessed over the

web at desktops or laptops, on mobile devices or via

mobile app, and can be embedded into operational

systems like SalesForce. This solution can be

wherever your employees are, providing access to

experts and on-demand performance support.

The Financial Services industry is one of the most

regulated industries in the United States. Whether

the financial institution is regulated by the OCC,

FINRA, the SEC or other ruling bodies, Cannon

and Bloomfire have been able to help organizations

adopt this innovative and collaborative technology

while meeting FINRAs and the SECs supervisory and

retention requirements. By meeting the regulators’

compliance requirements, CLOs and Training

Managers are now freer than ever to harness the

power of their entire workforce and strike down the

barriers of distance to enable skilled knowledge

workers to be able to more freely share, create

context, and learn from experts.

Bloomfire also provides social metrics that measure

participation and employee engagement in social

activity, not completion status like formal Learning

Management Systems. When used in formal

learning initiatives, measuring social engagement

along with traditional business results allows

learning professionals and business managers new

insights into how top performers are achieving their

results and how willing they are to share their tips

and best practices. Through encouragement and

rewards, such as picking up followers and rating

best answers, experts are more open to share and

workers in the moveable middle have the opportunity

to learn from those experts giving the best answers.

Adopting Social Learning Best Practices© 2015 Cannon Financial Institute 9

ConclusionSocial Learning can be the bridge between formal learning and informal learning initiatives

and it represents the way that people learn in our connected world. Social Learning is

the answer to the disruptors caused by technology, distance, regulation, and productivity

measurement. It is the way to harness the creative power of the entire organization and

promote innovation through collaboration. Using Bloomfire’s social platform, Cannon has

been able to help learning professionals promote collaboration and best practice sharing,

while helping business lines achieve results, offer their employees flexible, on-demand tools

to learn, create, and improve on their schedule.

BibliographyBandura, A. (1977). Social learning theory.

Downes, S. (2005). An introduction to connective knowledge (pp. 12-12). na.

Shum, S. B., & Ferguson, R. (2012). Social Learning Analytics. Educational Technology & Society, 15(3), 3-26.

Siemens, G. (2005). Connectivism: A learning theory for the digital age. International journal of instructional technology and distance learning, 2(1), 3-10.

White, M. (2012); Time – You Are Wasting Time At Work Right Now

Adopting Social Learning Best Practices© 2015 Cannon Financial Institute 10

About CannonFounded in 1961, Cannon is recognized as one

of the leading global consulting and professional

development firms serving the financial services

industry. Cannon’s offerings include industry-

forward instruction in personal trust, corporate

trust, sales, relationship and practice management,

retirement planning, operations, risk management,

audit and compliance and investment experience.

Cannon’s tailored consulting and blended learning

solutions help organizations understand and act

on change. Cannon shares their clients’ belief that

everyone deserves sound advice and exceptional

service. For additional information, visit

www.cannonfinancial.com.

ConTACT

Cannon Financial Institute

Cindy L. Hooper, Director of Marketing

706-353-3346, chooper@cannonfinancial.com

About BloomfireBloomfire exists to organize knowledge and

expertise, and make it accessible and shareable

with the people that need it most. Our easy-

to-use, elegant software is used by thousands

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Request a demo today at www.bloomfire.com.

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Eleanor Bowman

Director of Marketing

512-413-5278, eleanor@bloomfire.com